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Share Capital and Employee Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and weighted average exercise prices of share options

The following table summarizes changes in stock options for the years ended December 31,:

			Stock Options Outstanding
			Shares			Weighted Average Exercise Price CAD$
As at December 31, 2021			279.0			$	21.38
Granted			191.6			22.95
Exercised			(79.5)			15.12
Expired			(4.3)			41.62
Forfeited			(9.8)			31.32
As at December 31, 2022			377.0			$	23.01
Granted			167.1			21.18
Expired			(14.4)			23.61
Forfeited			(16.5)			25.39
As at December 31, 2023			513.2			$	22.32

Disclosure of range of exercise prices of outstanding share options

The following table summarizes information about the Company's stock options outstanding at December 31, 2023:

			Options Outstanding									Options Exercisable
Range of Exercise Prices CAD$			Number Outstanding as at December 31, 2023			Weighted Average Remaining Contractual Life (years)			Weighted Average Exercise Price CAD$			Number Outstanding as at December 31, 2023			Weighted Average Exercise Price CAD$
$17.53 - $23.03			446.4			5.4			$	21.13		159.1			$	19.70
$23.04 - $28.54			21.1			2.9			$	26.54		21.1			$	26.54
$28.55 - $34.04			38.8			4.9			$	30.07		25.9			$	30.70
$34.05 - $39.48			6.9			3.9			$	39.48		6.9			$	39.48
			513.2			5.3			$	22.32		213.0			$	22.35

Disclosure of assumptions used in determining fair value of options granted

The following assumptions were used in the Black-Scholes option pricing model in determining the fair value of options granted during the years ended December 31,:

			2023			2022
Expected life (years)			4.5			4.5
Expected volatility			30.1		%	44.3		%
Expected dividend yield			2.7		%	2.7		%
Risk-free interest rate			3.8		%	3.4		%
Weighted average exercise price (CAD$)			$	21.18		$	22.95
Weighted average fair value (CAD$)			$	6.01		$	7.69

Disclosure of dividends

The Company declared the following dividends for the years ended December 31, 2023 and 2022:

Declaration date			Record date			Dividend per common share
February 21, 2024 (1)			March 4, 2024			$	0.10
November 7, 2023			November 20, 2023			$	0.10
August 9, 2023			August 21, 2023			$	0.10
March 23, 2023			April 14, 20023			$	0.10
February 22, 2023			March 6, 2023			$	0.10
November 9, 2022			November 21, 2022			$	0.10
August 10, 2022			August 22, 2022			$	0.11
May 11, 2022			May 24, 2022			$	0.12
February 23, 2022			March 7, 2022			$	0.12

(1)These dividends were declared subsequent to the year end and have not been recognized as distributions to owners during the period presented.

PSUs

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and aggregate fair value of other equity instruments

The following table summarizes changes in PSUs for the years ended December 31, 2023 and 2022:

PSU			Number Outstanding			Fair Value
As at December 31, 2021			217.6			$	5.5
Granted			150.5			$	2.4
Paid out			(80.1)			$	(0.8)
Change in value			—			$	(2.3)
As at December 31, 2022			288.0			$	4.8
Granted			534.9			$	8.7
Paid out			(66.0)			$	—
Change in value			—			$	(1.0)
As at December 31, 2023			756.9			$	12.5

RSUs

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and aggregate fair value of other equity instruments

The following table summarizes changes in RSUs for the years ended December 31, 2023 and 2022:

RSU			Number Outstanding			Fair Value
As at December 31, 2021			426.4			$	10.7
Granted			341.1			$	5.6
Paid out			(198.4)			$	(3.4)
Forfeited			(17.3)			$	(0.3)
Change in value			—			$	(3.5)
As at December 31, 2022			551.8			$	9.1
Granted			516.2			$	8.4
Paid out			(237.3)			$	(3.9)
Forfeited			(25.7)			$	(0.4)
Change in value			—			$	(0.1)
As at December 31, 2023			805.0			$	13.1

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The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.

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